REAL 1820 Lecture Notes - Lecture 18: Property Insurance, W. M. Keck Observatory, Earnings Before Interest And Taxes
28 Nov 2015
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1 developers must have vision and see opportunities that others do not see or are too slow to capitalize upon. 2 development is the riskiest sector within the real estate industry: two reasons include. It involves a large amount of capitals. The development process is long and complicated, thus more rooms for errors. e. g. demand overestimated, competition underestimated, etc. 1st: inception of an idea. 2 have a development idea; need practical experience. 3 evaluate the viability of your development idea (is it a profitable idea?) 4 site purchase, loans (hardest part), construction contract, property insurance. 5 make sure construction work on schedule and within budget. 5th: completion and formal opening. **very important - they consult with local residence and the government about the development of the (finalizing step) Feasibility analysis for development project - . Feasibility analysis - used to determine and document a projects viability. Simple method: compare value & cost.
